IFRS 16 is an International Financial Reporting Standard (IFRS) for leases developed by the International Accounting Standards Board (IASB) in collaboration with the Financial Accounting Standard Board (FASB) in the United States to provide guidance on accounting for leases.
This standard, which will replace the previous leasing standard (IAS17), was issued in January 2016 and will be effective from 1 January 2019. All companies reporting under IFRS will have to adhere to it by or before 2019. However, those that choose to adopt IFRS 16 early must at the same time adopt the provisions in the new IFRS 15 Revenue from Contracts with Customers standard.
This professional development course provides an overview of the new IFRS 16 standard and the key changes to how leases are accounted for by leasees. It also considers the issues faced by businesses when setting out to implement this new standard.
Who is the IFRS 16 Leases professional development course for?
This professional development short course is ideally suited to those who work in the accounting field as well as anyone that teaches or studies financial accounting at A level, Degree or professional level. It will be of particular interest to people in roles such as:
- Accountants and accounting staff
- Finance Directors
- Accounting Teachers
- Accountancy Students
- Business Owners
- Business Managers
Gain a Certificate and digital badges to recognise your CPD achievement
Upon successful completion of this professional development course, you will be awarded with a E-Certificate of Completion from the University of Derby to recognise your achievement and your commitment to continuing professional development (CPD), allowing you to provide evidence to a professional body or to your employer or simply for inclusion in your personal development portfolio.
You will also gain a digital open badge for each unit that you complete, recognising your efforts for each stage of the course.
Whilst this course does not lead to University credits, it can be used to evidence your CPD and experiential learning.
During the IFRS 16 Leases course, you can expect to:
- Learn about the key factors brought about by the IFRS 16 standard and how it affects your business.
- Gain a deeper understanding of the definition of a lease contract and how accountability of these differ from the previous IAS 17 standard
- Gain an understanding of meaning of lessee in the context of IFRS 16
- Discover the impact of the IFRS 16 on the Statement of Income and Statement of Financial Position.
A flexible course that fits in with working and family life
This compliance training course is open for continuous enrolment, which means it can be studied at any time and delivered 100% online, allowing you to manage your studies around work and family commitments. This is a self-guided course which involves reflective activities to assess subject understanding. Our online short courses are designed to be intellectually stimulating, thought provoking and rewarding.